Govt extends RoDTEP scheme to all merchandise exports from today

The government will extend the benefit of the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to all export goods with effect from January 1.

The RoDTEP scheme will refund to exporters, the embedded central, state and local duties and taxes, an official statement said.

The refund will be credited in an exporter’s ledger account with customs and is used to pay Bbasic customs duty on imported goods.

The credits could also be transferred to other importers.

The RoDTEP rates would be notified shortly by the department of commerce, based on the recommendation of a committee chaired by former commerce secretary G K Pillai. The final report of the committee is expected shortly. Irrespective of notification, RoDTEP would be made effective from January 1, the statement said.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor